Devile returns to retail industry

Former Nvesta managing director Graham Devile has returned to the industry with a start-up company of...

Former Nvesta managing director Graham Devile has returned to the industry with a start-up company offering retail and bespoke structured products plus open-ended vehicles.

Called Meteor Asset Management, the group is headed up by Devile and Phil Saunders, who previously worked on product design at Nvesta.

According to Devile, the business will have four basic streams, with retail structured products the initial focus based on their knowledge and contacts.

The group is expecting to launch two products in the coming weeks, one focusing on income and one on growth, with both likely to link to typical UK and European indices.